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Showing posts with label Bank of Maharashtra. Show all posts
Showing posts with label Bank of Maharashtra. Show all posts

Thursday, October 4, 2018

Bank of Maharashtra has shuttered 51 branches across the country to cut costs

Bank of Maharashtra has shuttered 51 branches across the country to cut costs. The loss-making branches – located in urban centres across Maharashtra, Rajasthan and Karnataka, among other states – have been merged with neighbouring ones, a bank official said. It wasn’t immediately clear as to whether the move will lead to retrenchment of staff. Earlier, Indian Express reported that public sector banks – including SBI, Punjab National Bank, Indian Overseas Bank, IDBI Bank and Bank of India – were looking to shut down nearly a third of their 216 overseas branches to cut costs.